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Equity sales edge up again after August dip

Investors have been regaining confidence in equity markets after inflows had stalled in August, September fund sales figures suggest.


PA Europe

European investors funnelled €5.9bn into equity ETFs last month, according to data provided by Lipper. That follows a month of net outflows in August.

Eurozone equity ETFs were the most popular investment, seeing €1.3bn in net inflows in September. Emerging market equities also saw strong inflows (+€1bn), and financial sector ETFs edged up again too.

Spain and Sweden lead the way

The Lipper figures confirm earlier data releases for September from the Swedish and Spanish asset management associations. Both Inverco (Spain) and Fondbolagens förening (Sweden) reported a surge in flows to equity funds.

Swedish investors put SEK4.9bn (€511m) into equity funds, following three consecutive months of net outflows. These figures chime with a recent Expert Investor poll among Swedish fund buyers, three quarters of whom said they are currently overweight equities.

Spanish investors also stepped up their investments in equity funds. Traditionally known for their fondness of fixed income and multi-asset funds, they shrugged off their risk aversion by committing a net €672m into equity funds in September. That compares to just €279m in August.